Florida HOA Fees: What They Cover and What to Ask Before You Buy
HOA dues are part of your monthly cost of living in a community. Understanding what they pay for helps you spot a well-run association, and a risky one.
What dues typically pay for
- Landscaping and common-area maintenance
- Gate, access control, and security
- Pools, clubhouse, and amenities
- Common-area insurance and utilities
- Management and legal or accounting costs
- Reserve contributions for future repairs, if the association funds them
What is included differs a lot between communities. Some cover lawn care, cable, or internet for each home, and others do not.
How fees are set and changed
The board adopts an annual budget under the association's governing documents. Florida law generally requires the association to give owners advance notice of the meeting where the budget will be adopted, along with a copy of the proposed budget, so owners can attend and comment. Check Chapter 720 and your documents for the specifics.
Special assessments
When the budget or reserves fall short, the board may levy a special assessment to cover major repairs or unexpected costs, if the governing documents allow it. These can be large, so ask whether any are planned or recently passed.
Reserves
Condominiums have specific statutory reserve requirements. For HOAs, reserve requirements depend more on the governing documents. A thin or empty reserve fund for roads, roofs, or drainage can mean bigger assessments later.
Unpaid assessments
Florida associations can place a lien on a home for unpaid assessments, and in serious cases can pursue foreclosure. Never ignore an assessment notice.
What to ask before buying
- What are the current dues, and how have they changed over the last few years?
- Can I see the current budget and the most recent financial statements?
- Is there a reserve study, and how well funded are reserves?
- Have there been special assessments, or are any planned?
- Are there pending lawsuits or major repairs?
- What are the rules on rentals, vehicles, fences, and exterior changes?
Then plug the dues into the mortgage calculator to see your full monthly cost.